E.P.B. Electric Customers on the Variable Price Rate- We
predict the POSSIBILITY for February's peak electric demand to occur on
Tuesday, February 19th between 7am - 1pm. This is only a prediction based upon
our best guess as to what the combination of all customers in Glasgow will
demand from T.V.A. This is our forecast which is provided as a convenience for
E.P.B. customers who wish to receive forecasts. You will be billed for your
contribution to the peak hour which falls within one of our predicted periods
only. If you want to move to a fixed energy rate without coincident peak demand
charges, please contact us at 270-651-8341

ØDiscussion about stated plans of a majority of
EPB members vs. the bond issues about to be closed

ØDiscuss
bids for HVAC upgrades

ØConsider
reduced bandwidth cost for bulk internet customers

ØConsider
Programming Committee appointments

ØConsider
termination of Superintendent’s employment

ØConsider
termination of Jeff Herbert at EPB counsel of record

Action Items

March 1 FCA

ØThe March 2019 TVA FCA will
decrease to 1.776 cents per kWh. This is the second consecutive small decrease
in the FCA, but the decreases are smaller than anticipated. TVA states the
reason is the cold December, which caused them to purchase a lot more fuel and
energy from neighbors.

ØOn March 1, the energy
component of our retail rates will adjust to reflect this anticipated decrease
to the wholesale cost of energy.

Discussion
of impacts of planned board actions on 2019 bonds

ØThis discussion will be led by Charles Musson and Christian Juckett,
partners at Rubin & Hays, our bond counsel firm. The discussion will be
centered around the letter, included in the board package (and also previously
forwarded to all board members).

Building
HVAC Upgrades

ØThe original 1967 portion of the EPB office building
still has a vintage 1967 HVAC system. While it has been patched and maintained
as best as possible over the last 50+ years, the time has come to begin the
process of replacing the system.

ØTVA has helped us design and specify ductless heat
pump technology to allow a methodic replacement of the old system. The small
ductless units will allow 2-3 office groupings to share a thermostat, instead
of the old system which attempted to provide HVAC for most of the building as
one.

ØThe bids for the first round of HVAC upgrade will be
opened on Friday, February 15. The results of those bids, along with a
recommended vendor, will be presented at the meeting.

ØDue to excellent success in procuring bulk bandwidth
by our own Josh Francis, our present retail rate for bulk bandwidth is higher
than it really should be.

ØAt the meeting, I will present his recommendation to
lower our bulk bandwidth rates to a point which makes our rates more consistent
with the market rates for same.

Cable
Television Programming Committee Appointments

ØThe Programming Committee acts independently of EPB
to consider what programming is appropriate for the EPB Cable Television system.
The committee makes these determinations and recommends same to the EPB.

ØThe committee was purposely created to isolate EPB
from any potential violation relative to the First Amendment to the U.S.
Constitution.

ØThe committee consists of six members, with
staggered terms, in addition to the Superintendent, who acts as Chairperson and
liaison between the committee and EPB.

ØThe terms of Mary
Genice Burchett-Bower and Karl Napier expired at the end of 2018. Ms.
Burchett-Bower has served two terms and Mr. Napier has served one term.

E.P.B.
Electric Customers on the Variable Price Rate- We predict the POSSIBILITY for
February's peak electric demand to occur on Friday, February 8th between 7am -
1pm. This is only a prediction based upon our best guess as to what the
combination of all customers in Glasgow will demand from T.V.A. This is our
forecast which is provided as a convenience for E.P.B. customers who wish to
receive forecasts. You will be billed for your contribution to the peak hour
which falls within one of our predicted periods only. If you want to move to a
fixed energy rate without coincident peak demand charges, please contact us at
270-651-8341

E.P.B. Electric Customers on the Variable Price Rate- We predict the POSSIBILITY for January's peak electric demand to occur on Wednesday, January 30th between 7am - 1pm. This is only a prediction based upon our best guess as to what the combination of all customers in Glasgow will demand from T.V.A. This is our forecast which is provided as a convenience for E.P.B. customers who wish to receive forecasts. You will be billed for your contribution to the peak hour which falls within one of our predicted periods only. If you want to move to a fixed energy rate without coincident peak demand charges, please contact us at 270-651-8341

E.P.B. Electric Customers on the Variable Price Rate- We predict the POSSIBILITY for January's peak electric demand to occur on Monday, January 21st between 7am - 1pm. This is only a prediction based upon our best guess as to what the combination of all customers in Glasgow will demand from T.V.A. This is our forecast which is provided as a convenience for E.P.B. customers who wish to receive forecasts. You will be billed for your contribution to the peak hour which falls within one of our predicted periods only. If you want to move to a fixed energy rate without coincident peak demand charges, please contact us at 270-651-8341.

Ø Accurate peak prediction for December issued using only two predicted days

Ø Reorganization of team, due to retirements and illness, will continue through 2019

Ø Discuss appointments to Cable Television Programming Committee

Ø Consider Bond Issuance Proposals for 2019

Ø Consider Request from Barren-Metcalfe County Ambulance Service

Ø EPB Internet Speed Upgrade

Ø NBCU Programming Recommendation

Action Items

📷

February 1 FCA

Ø The February 2019 TVA FCA will decrease to 1.909 cents per kWh. This is the second consecutive small decrease in the FCA, but the decreases are smaller than anticipated. TVA states the reason is the very unusually cold November, which caused them to purchase a lot more fuel and energy from neighbors.

Ø On February 1, the energy component of our retail rates will adjust to reflect this anticipated decrease to the wholesale cost of energy.

Agreement with Hilliard-Lyons to act as Financial Advisor

Ø The team at H-L has served us well for over thirty years in helping us raise capital when needed. They bring years of experience and a history of success and professionalism relative to our bond issues.

Ø A copy of the proposed agreement and fee schedule for the upcoming 2019 bond issuance is attached and will be available for your consideration at the meeting.

Consideration of official bond resolution

Ø The 2019 bond issuance consists of one set of bonds to be used to refinance an old bond issuance from 2009, which we anticipate will save approximately $25,000 per year for the next ten years. This will be a $2.705M issuance.

Ø The second set of 2019 bonds will be one of our regular issuances of debt for capital to be used in our system enhancement and maintenance projects over the next two years. This issuance will be for $3,050,000. The term of these bonds will be twenty years.

Ø The bond resolution was drafted by H-L and our bond counsel, Rubin & Hays. Copies of the full resolution are attached and will be available at the meeting.

Presentation by Charles O’Neal with Barren-Metcalfe Ambulance Service

Ø Issues with the building presently occupied by the ambulance service are causing them to consider spending considerable money on the building, or possibly abandoning the site/building completely.

Ø Glasgow EPB gave the land to the ambulance service in 1981, but there is a provision in the deed that transfers the property back to EPB should they ever cease to utilize it.

Ø Mr. O’Neal contacted us in December and asked for us to consider altering the deed. He will explain the proposal in detail at the meeting.

Ø A copy of documents relevant to this matter is attached.

Cable Television Programming Committee Appointments

Ø The Programming Committee acts independently of EPB to consider what programming is appropriate for the EPB Cable Television system. The committee makes these determinations and recommends same to the EPB.

Ø The committee was purposely created to isolate EPB from any potential violation relative to the First Amendment to the U.S. Constitution.

Ø The committee consists of six members, with staggered terms, in addition to the Superintendent, who acts as Chairperson and liaison between the committee and EPB.

Ø The terms of Mary Genice Burchett-Bower and Karl Napier expired at the end of 2018. Ms. Burchett-Bower has served two terms and Mr. Napier has served one term.

- Updated calculations will be presented at the meeting. The fund is in excellent shape due to recent accuracy of peak predictions, but the reporting format is being overhauled.

Ø EPB Team Staffing Master Plan

- Report on progress of long-term staffing plan

- Updated chart on Master Plan will be presented

Ø End of Year Internet Upgrade

- EPB has historically recognized the value of its internet access products and the customers who use the product, by performing the necessary work to upgrade speed offerings each year.

- This year the board authorized a significant expenditure to upgrade the CMTS and make system improvements which allowed the customary annual upgrade to be possible.

- At the end of 2018 our internet products were upgraded at no additional cost to EPB customers. Download maximum speeds were upgraded as follows: 15 MB service is now 25 MB service, 25 MB service was upgraded to 50 MB, and the 50 MB product doubled in speed to 100 MB.

Ø Additional Grant Funding

- TVA has released funds which were left over after two previous research projects were completed. These funds total about $72,000 and will be used to help us continue our work with the SET technologies. TVA wants to do additional research with us in Glasgow and we are awaiting a proposal from them.

Ø Round Up Program Report

- Last month there was general discussion about the program and questions were asked about how EPB might step up its promotion of the program and its assistance to Community Relief.

- We dramatically increased the advertising for Round Up, and we found that the fund contained about $1500 awaiting the customary annual transfer to Community Relief.

- Since board members related information about the CR resources being depleted, that $1500 was transferred to CR at end of year.